HELLENiQ ENERGY S A : New international investment in RES in the Cyprus market by HELLENiQ ENERGY
October 31, 2023 at 04:42 am EDT
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30.10.2023
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New international investment in RES in the Cyprus market by HELLENiQ ENERGY
HELLENiQ ENERGY announces the acquisition of six photovoltaic parks, with a 26 MW capacity, in Cyprus, increasing the total capacity of its RES portfolio in the country to more than 40 MW.
The acquisition, carried out through its subsidiary HELLENiQ Renewables, is the Group's fifth investment in RES internationally and the second in the Cypriot market.
Additionally, it is estimated to lead to an additional annual production of renewable electricity of 43 GWh, increasing the total annual production to 68 GWh.
With this investment, which is a part of Vision 2025 strategy, HELLENiQ ENERGY aims to further strengthen its role as a leader in the evolving energy sector.
The new parks will operate gradually, within the next five months, after the completion of the shares transfer, at which point they are expected to contribute to HELLENiQ Renewables Cyprus production capacity.
PricewaterhouseCoopers Ltd. (PwC CY) acted as exclusive financial advisor to HELLENiQ ENERGY, while the law firm Chrysis Dimitriadis and Associates acted as legal advisor for the transaction.
HELLENiQ ENERGY is active in Cyprus and the sector of trading of electricity from RES, to industrial customers through the subsidiary company EKO Energy Cyprus.
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Helleniq Energy Holdings SA published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 08:41:43 UTC.
Hellenic Petroleum S.A. is Greece's No. 1 oil refiner and distributor. The group is also Greece's only producer of petrochemical products. The activity is organized around four areas:
- oil refining: operating, at the end of 2022, of 3 refineries located in Greece;
- distribution of petroleum products: operating of a network of 1,972 service stations located primarily in Greece (1,655) ;
- petrochemistry: primarily polypropylene films, solvents and caustic soda;
- other: exploration and production of hydrocarbons, production of electricity, etc.
HELLENIQ ENERGY HOLDINGS S.A. 
